Latest News on Dividend and Preferred Stocks

Quiet Markets For Income Investors

Day after day income investors search for reasonable sources of income as preferred stock issues and baby bonds with 6, 7 and 8% coupons are redeemed while new issues are being sold with coupons of 4, 5 and 6%.  Even the junky companies (in particular some REITs) are issuing perpetual preferreds at rates that they […]

REIT Public Storage Breaks the 5% Floor

It had to happen sooner or later in the current low interest rate environment and REIT Public Storage (NYSE:PSA) is the perfect company to offer a preferred offering with a coupon of just 4.95%–the 1st preferred offered with a coupon under 5% for many, many years.  PSA is investment grade rated and is a genuine […]

A Little Selling and a Little Buying

We have made a few adjustments to the Blended Income Model Portfolio and wanted to convey those changes to all. We have sold the Gladstone Commercial 7.125% term preferred shares (NASDAQ:GOODN).  This issue is being called and rather than wait for the redemption date to arrive we have sold the shares. We had bought these […]

Bluerock Residential Growth REIT Sells a Preferred Offering

Apartment REIT, Bluerock Residential Growth REIT (NYSE:BRG) has sold a new cumulative preferred stock offering. BRG is a owner of apartment communities.  The REIT many times will provide financing for the construction of new apartment buildings and negotiate an option to purchase a percentage or the entirety of the building upon construction completion.  To date […]

Diversified Financial Services Company Stifel Financial Sells a Preferred

Stifel Financial Corp. (NYSE:SF), a full service brokerage and investment banking firm has sold a new issue of preferred stock. Being a financial services firm the offering is required to be a non-cumulative preferred offering with the typical preferred stock terms.  The shares are redeemable in about 5 years, at the option of the company, at […]

Lodging REIT Ashford Hospitality Trust Sells a Preferred Offering

Ashford Hospitality Trust (NYSE:AHT) has sold a new 7.375% preferred offering in a refinancing transaction.  The proceeds from this offering will be used to redeem the Trusts outstanding 9% preferred issue (NYSE:AHT-E) which became redeemable on 4/18/2016. AHT is a large owner of upscale hotels with branding that includes, Hilton, Westin and Marriott.  The Trust […]

Income Investors Feast While Interest Rates Signal Recession

Nearly everyday I look at the various portfolios that we have on the website as well as our personal accounts and smile.  The vast amount of fear, on a global basis, has helped generate profits for income investors as investors from all over the world rush in and try to secure at least a modest […]

Closed End Fund Gabelli Dividend & Income Trust Sells a Preferred Issue

The Gabelli Dividend & Income Trust, (NYSE:GDV), a closed end fund (CEF), has sold a high quality preferred share offering with a low coupon of 5.25%.  Given that the issue is rated Aa3 by Moodys the low coupon in the present yield environment should be expected. The trust is using the proceeds for general corporate […]

From The Yield Hunter Blog

We Harvest a Nice Profit as Utilities Fly High

As we had previously noted we would harvest profits from time to time as opportunity presented itself.  Opportunity presented itself with water utility Artesian Resources (NASDAQ:ARTNA) jumping $1.39/share today to close near a 52 week high of $33.08. ARTNA was a legacy holding in the Blended Income portfolio, which was bought for $22.49/share in October, […]

Giant Single Family Residence REIT American Homes 4 Rent Sells a Preferred

Only 1 month after selling a cumulative, redeemable preferred offering with a coupon of 6.50% American Homes 4 Rent (NYSE:AMH)  is back with another offering with a slightly lower coupon of 6.35%. AMH is the giant of the single family residence REIT marketplace with ownership of over 47,000 houses.  It really isn’t a surprise that […]

Wild Ride on Tap for Today

So we are going to have a bit of a wild ride today thanks to the British vote yesterday.  No need to panic as the U.S. market is shown down just 3% or so at the moment, which is a drop in the bucket compared to some of the European markets which are down 7-12%. […]

Preferred Stock Offerings from Lodging REITs Just Keep Coming

Summit Hotel Properties Inc. (NYSE:INN) is the latest lodging REIT to tap the equity markets via a new preferred stock offering. Unfortunately, like almost all the other recent offerings, the coupon offered doesn’t reflect the long term risk/reward one undertakes when owning preferred stocks from lodging REIT issues.  The coupon on the new issue is […]

Where Do We Go From Here?

In our 10 years of income investing we have not seen a market like the one we are currently experiencing.  Demand for virtually all preferred stocks and baby bonds has remained strong all year and we have reached a point where even the junky stuff is trading near $25.  So where do we go from […]

Teekay Offshore Partners LP Sells a New Private Placement Preferred

Offshore energy services provider Teekay Offshore Partners (NYSE:TOO) has announced a new preferred stock offering with a 10.50% coupon.  Unfortunately for preferred stock investors these shares have been placed in a private placement and we do not expect them to trade on any stock exchange (at least at this time).

KKR & Co LP Sells Another Preferred Offering

Only 1 month after selling a large offering of preferred units KKR & Co. LP (NYSE:KKR) has sold another series of preferred, although at a lower coupon. The Series A offering (ticker:KKR-A) in May had a coupon of 6.75% and the new Series B offering carries a coupon of 6.50%.  While as buyers and owners […]

Wells Fargo and Company Sells a Large Preferred Offering

Giant banker Wells Fargo and Company (NYSE:WFC) has sold a new preferred stock offering and as has become typical with the large U.S banking companies it is a huge issue, with a total of 46,000,000 $25 shares being offered. The new issue carries a coupon of 5.50% which is too low to garner our interest, […]

Property and Casualty Insurer Validus Holdings LTD Sells a Preferred Issue

Validus Holdings LTD (NYSE:VR), a $11 billion dollar insurance holding company, has sold a investment grade preferred issue with a coupon rate of 5.875%. We were not familiar with Validus Holdings so a bit of research was in order.  VR was formed in 2005 by various private equity owners including Goldman Sachs and Merrill Lynch. […]

Income Investor Returns Continue to be Strong

Super returns have been accruing to the income investor for many months now and I have to wonder how long this will last.  Gains in almost all preferreds and debt issues continue to be strong as investors hunt hard for anything that will pay them more than treasuries and even issues with modest coupons trade […]

Pebblebrook Hotels Trust Sells a New Preferred

The latest new preferred stock offering from a lodging REIT comes to us from Pebblebrook Hotel Trust  (NYSE:PEB).  So now we have had recent offering from Hersha Hospitality (NYSE:HT), 2 issues from Sunstone Hotel Investors (NYSE:SHO), and lastly from LaSalle Hotel Properties (NYSE:LHO). As most of you likely know we are not fans of these […]

Limited Partnership Ares Management Sells a Preferred Issue

Alternative asset manager Ares Management LP (NYSE:ARES) has sold a new preferred issue with a rather tasty coupon of 7%. ARES, with over $94 billion in assets under management, is a large, well run company and the new issue has a low investment grade rating from Standard and Poor’s of BBB-.  ARES has no other […]

Site Issues – 9:30 am CDT – Update

Just to clarify that we are not asking anyone to turn off adblockers—BUT you can “whitelist” individual sites and we believe this will allow spreadsheets to be visible. It is believed from the info we have received from readers that AD BLOCKERS are the issue with most pages not loading the spreadsheets correctly.  The exception […]

Closed End Fund Gabelli Utility Trust Sells a Quality Preferred Issue

The Gabelli Utility Trust (NYSE:GUT), a closed end fund (CEF) has sold a quality, investment grade, preferred stock.  The shares are rated A1 by Moodys. As is normal for a preferred stock offering from a CEF the company must maintain a 200% asset coverage ratio. Per the prospectus GUT will have a asset coverage ratio […]

New Site and Issues – 8 am CDT

Tuesday 8 am CDT We are getting feedback that is still mixed.  A number of folks indicate that ad blocker settings may well be the problem.  Readers should check their ad blocker and allow the pages you want to see.   Monday  2 PM CDT Firefox continues to be a problem for most folks.  The balance […]

Lodging REIT Hersha Hospitality Trust Sells a Preferred

Once again a lodging REIT has sold a new preferred stock offering with a coupon that we consider too low for the risk/reward proposition.   Hersha Hospitality Trust (NYSE:HT) is executing a “refinancing” of the currently outstanding 8% cumulative preferred stock (NYSE:HT-B) with a new 6.50% preferred stock issue.  The company has 1 additional issue […]

Two More New Preferred Issues – Updated

LaSalle Hotel Properties (NYSE:LHO) and Gladstone Commercial Corp (NASDAQ:GOOD), both REITs, have sold new preferred shares. LaSalle Hotel Properties is an owner of upscale hotel properties that are located primarily on the east and west coasts of the United States. While LHO has operated effectively for the last number of years, we are not enamored […]

Interest Rate Scare Slams REITs

Only 9 trading days ago the REIT index (Vanguard REIT ETF NYSE:VNQ) that we follow as a proxy for the entire Real Estate Investment Trust market hit a new 52 week high and now, in a blink of an eye (or 3 days), the index has fallen by 5%. In our opinion the REIT sector […]

Single Family Residential REIT American Homes 4 Rent Sells a Preferred Issue

Giant single family residence owner American Homes 4 Rent (NYSE:AMH) has sold a new preferred stock issue.  The issue carries a coupon of 6.50% and shares should begin trading on the OTC Grey market tomorrow (Wednesday). The OTC Grey market ticker is AMHHP. AMH currently has 3 other preferred stock issues, but all of the […]

Lethargic Global Economy Benefits Income Investors

As we continue to get soft economic data out of virtually all areas of the world income investors have been feasting on outsized gains in their investment portfolios.  Securities with any type of dividend attached to them have continued to rise in value in spite of many of them being of poor quality.  There doesn’t […]